UW delivers record results driven by 20% annualised customer growth

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21 June 2022 - Utility Warehouse, the consumer facing brand of Telecom Plus, has today reported record results driven by a return to annualised customer growth of 20%. The results show a business providing services to more than 729,000 customers and now targeting an additional 1 million customers over the next four to five years.

UW is the UK’s only multiservice provider, providing customers with all their home utilities (energy, broadband, mobile, insurance) in one easy to manage bill. Our multiservice model means only one set of overheads are needed to provide multiple home services, and the resulting savings are then passed on to consumers. 

With an ongoing cost of living squeeze, compounded by an expected increase to the energy price cap in October of £800, thousands of customers are turning to UW every week to save money on their bills. And UW plans to help even more customers save on their home services and aims to welcome at least one million additional customers in the next four to five years. 

UW operates a unique route to market, relying on word of mouth referrals from its Partners and satisfied customers. And the Partner community is growing, with 45,000+ Partners helping consumers up and down the UK save money. 

Andrew Lindsay, Co-CEO of Utility Warehouse, said: ‘With household budgets being squeezed across the UK, more and more people are turning to us to save money. Our multiservice approach means we can offer our customers long-term savings.’ 

‘With the price cap set to rise further in October, we will continue to offer our customers the lowest energy prices in the country this winter, giving every household the opportunity to make significant savings at a time when they need it the most.’ 

Stuart Burnett, Co-CEO of Utility Warehouse, said: ‘Our multiservice business model enables us to sustainably offer the lowest energy tariffs in the country, with a typical household taking three services from us expected to save around £140 a year on the Government price cap from October, as well as making additional savings available on their other UW services.’ 

‘Our Partners are growing more and more confident in what we are offering and they are recommending UW to their friends and families in increasing numbers. By doing so, they are earning meaningful additional incomes that are helping them meet the growing pressures on their personal finances. Working together, we are delivering 20% annualised growth and looking forward to signing up a million additional customers over the next four to five years.’

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